Amazon reseller Pattern debuts on Nasdaq after IPO raised $300 million
Pattern groupone of the leading vendors AmazonHe dived into public markets on Friday and saw that the stock rose at the exit of Nasdaq.
“PTRN”, the stock opened after $ 13.50 after the company Stock $ 14 in the public offering Expected December. Stocks closed on Friday at 11% of $ 15.63.
The Pattern’s proposal has collected $ 300 million, half of the revenues goes to investors and worth $ 2.5 billion to the company.
The UTAH -based company was founded in 2013 by David Wright and Melanie Alder, a husband and wife duo in 2013 before it was changed to Pattern in 2019 as Iserve products. Model According to the research firm, according to the number of customer investigations, it is included in the US as 2nd Amazon Dealer in the USA. Sunday pulse.
The company describes more than 200 brands as a “E -commerce accelerator” that helps to optimize in online markets such as Amazon. Walmart– Aim and Tiktok shop. It sells tens of thousands of products among categories such as health and vitality, consumer electronics, beauty and personal care. Some brand partners Nestle, including Panasonic and Skechers.
The technical public offering market has returned to life in recent months after a wide dry magic. Ticket dealer Stubhub Wednesday was released on the New York Stock Exchange, but the stocks fell on the first two days of the transaction. Online lent Klarna And GeminiFounded by Cameron and Tyler Winvoss, the crypto company started trade last week. Peter Thiel -backed crypto currency exchange Taurus, design software company Figma and Stablecoin Exporting Circle has recently been released.
In the second quarter, the pattern reported 39% revenue increase compared to the previous year. Compared to $ 11.3 million compared to the previous year, the company recorded a net revenue of 16.4 million dollars in the second quarter. Business revenue reached $ 30.1 million for $ 23.1 million in the same period last year.
The company competes with millions of traders who seize their goods in the expanding market of Amazon, where third -party sellers are now more than half of the goods sold on the site. The pattern said that 94% of the 2024 income came from the sales of consumer products in Amazon and that a “important majority” in the USA.
The pattern is not the first amazon seller to pursue a public offering. Pharmapacks, the best US amazon dealer, thought that a year later, before mixing these plans and applying for bankruptcy, he thought that it was opened to the public through a special purpose purchasing company in 2021.
The pattern is hit by the market during the great global trade uncertainty, which is a factor in its prospectus. President Donald Trump’s tariff threats against trade partners sent shock waves through markets for the last five months and did things globally.
“There is a significant uncertainty about the potential actions of the US government on the trade of international trade policy and the impact of trade between the United States and China,” the filing said.
The pattern said that tariffs and trade tensions between the US and China may adversely affect the demand for their products, or that “consumers may damage their ability to sell brand common products at prices they are willing to pay”.
CEO David Wright said in an interview with CNBC on Friday, the company’s offer “a few months ago” planned to make, but the first time announced in April, he said. Klarna and Stubhub, Sunday Trump’s first announcement after the public offering to wait.
However, according to the prospectus, the company’s largest risk of trust in Amazon and what might happen if the E -commerce giant makes significant changes.
The pattern said that Amazon should restrict the ability to see major changes due to selling products, terminating the relationship or lawsuit or arrangement, “continuous growth, financial situation and operation results may adversely affect our operations,” he said.
Wright said the Amazon struggle was inevitable.
“Whatever you do in this area, you will play with them,” Wright said. As for Amazon’s suspension of certain brands and sellers, he said, “They even became a great partner for us as long as you stay.”
Correction: This article has been updated to reflect that the crypto company Gemini was established by Cameron and Tyler Winvoss. A previous version wrongly wrote the surname of the founders.
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